Dundee Precious Metals (TSE:DPM) Reaches New 52-Week High - Still a Buy?

Key Points

• Dundee Precious Metals' stock reached a new 52-week high of C$28.56, closing at C$28.20 with a trading volume of 178,043 shares.
• Analysts have raised their target prices, with Scotiabank setting a new target of C$28.50 and multiple firms giving the stock ratings of "Strong Buy" and "Buy."
• The company announced a quarterly dividend of $0.04 per share, which represents a dividend yield of 0.6% and an annualized payout of $0.16.

Dundee Precious Metals Inc. (TSE:DPM - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$28.56 and last traded at C$28.20, with a volume of 178043 shares changing hands. The stock had previously closed at C$27.60.

Analyst Ratings Changes

DPM has been the subject of several research analyst reports. Scotiabank increased their price objective on shares of Dundee Precious Metals from C$26.50 to C$28.50 and gave the company an "outperform" rating in a research report on Thursday, September 4th. CIBC raised their price target on shares of Dundee Precious Metals from C$23.00 to C$25.00 in a research report on Monday, June 16th. TD Securities raised their price target on shares of Dundee Precious Metals from C$23.00 to C$25.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Royal Bank Of Canada raised their price target on shares of Dundee Precious Metals from C$24.00 to C$32.00 and gave the stock a "moderate buy" rating in a research report on Wednesday. Finally, BMO Capital Markets set a C$36.00 price target on shares of Dundee Precious Metals and gave the stock an "outperform" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$27.28.

Dundee Precious Metals Stock Performance

The firm has a market cap of C$6.63 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 0.04 and a beta of 0.79. The business's 50 day moving average price is C$24.46 and its 200 day moving average price is C$21.15.

Dundee Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Dundee Precious Metals's payout ratio is 11.51%.

About Dundee Precious Metals

Dundee Precious Metals Inc, a gold mining company, engages in the acquisition, exploration, development, mining, and processing of precious metals. The company primarily explores for gold, copper, and silver deposits. It holds a portfolio of projects located in Bulgaria, Namibia, Serbia, and Ecuador.